 |
| Dajana
Topic |
On November 12 2013, a new decision on the rate of specific
excise duty and an overall minimum excise duty on cigarettes
for the year 2014, levied by the governing board of the
Indirect Taxation Authority (ITA), was published in the
Official Gazette. The decision is applicable from January 1
2014.
Therefore, the manufacturers and distributors of cigarettes
were required to, by November 30 2013, submit to the ITA the
new retail prices of cigarettes which will be effective from
the beginning of 2014.
The decision on establishing specific minimum excise duty on
cigarettes for 2014 defines that the following excise tax will
be paid:
- Proportional excise duty at the rate of 42% of the retail
price of cigarettes;
- The specific excise duty will be increased from BAM37.50
($26) to BAM45.00 per 1,000 cigarettes, while an overall
minimum excise duty will be increased to BAM104.50 per 1,000
cigarettes from BAM91.00 at the moment.
For cigarettes with tax labels issued before December 31
2013 but imported after January 1 2014, the importers will pay
a difference between excises already paid and the new
liability, according to the calculation made by the relevant
ITA Customs Office.
Dajana Topic (dajana.topic@eurofast.eu)
Eurofast Global, Banja Luka Office
Tel: +387 51 340 680
Website: www.eurofast.eu